John Faraclas
Controlled losses brought the BDI down to 1,147 points – minus 7, the wets also suffered minor losses and geopolitics become a liability for all; John Faraclas’ mid week briefing:
The Capers proved that volatility is the name and the BCI 2014 gained 23 points, now reading 1,790 – the only size with a plus symbol!
The Panamaxes lost 51 points and the BPI now reads 1,320 points – CAUTION!!!
The Supras’ BSI was down six points at 881 and the
BHSI lost just one point – now standing at 576 points; tough, but reality bytes the entire Dry sector…
The Wets also on a downwards mode; the last published BDTI (Dirties) and BCTI (Cleans) lost ten and eight points – now standing at 802 and 646 respectively…
We insist on scrapping …err recycling or demo… to accelerate; having said that though, wonder whether lenders can afford to loose more money, whilst at the same time they our out to finance new/younger tonnage (newbuildings included). So then, can you compete with yourself?
The WTI stood at US$ 49,26 – a satisfactory level given the poverty and the inability of the masses to afford higher levels…
The Geopolitics continue to bottom out creating all over Planet Ocean a very tensed and uncertain environment; we insist all to be on guard for every eventuality in all fronts.
Theo Xenakoudis of IRI at the podium – picture credits AAS-ABL
On another note today in Athens’ Metropolitan Hotel The Marshall Islands Registry & Blank Rome LLP held a seminar on US Regulatory, Financial, and Political Issues Affecting Shipping.
An excellent line up of speakers and moderators for all three sessions (see herebelow the themes, speakers and moderators):
Session I – US Regulatory and Enforcement Issues
Moderated by Stefanos N. Roulakis, Associate, Blank Rome LLP
Ballast Water Management – Options, Challenges and Practical Realities
Jeanne M. Grasso, Partner, Blank Rome LLP
US Coast Guard’s (USCG’s) Qualship 21 Program
Lieutenant Samuel M. Danus, Port State Control Oversight, USCG (via video link)
Brian Poskaitis, Senior Vice President, Fleet Operations, IRI
l to r: Jeanne M. Grasso, Gregory F. Linsin, George Margelis and Brian Poskaitis – picture credits AAS-ABL
Panel Discussion:
Operations in US Waters – Oily Water Separators, Whistle Blowers and Other Legal Risks
Jeanne M. Grasso, Partner, Blank Rome LLP
Gregory F. Linsin, Partner, Blank Rome LLP
George Margelis, Environmental Compliance Manager, TMS BULKERS Ltd
Brian Poskaitis, Senior Vice President, Fleet Operations, IRI
Session II – Sources of Capital and Restructuring
Moderated by R. Anthony Salgado, Partner, Blank Rome LLP
l to r: Harrys Kosmatos, R. Anthony Salgado, Simos Spyrou and Ioannis Zafirakis – picture credits: AAS-ABL
Panel Discussion:
Capital Markets – Initial Public Offering (IPO) and Secondary Offering
Other Sources of Financing
Restructurings in US Bankruptcy Courts
Jerry Kalogiratos – picture credits: AAS-ABL
Jerry Kalogiratos, Chief Executive and Chief Financial Officer, Capital Product Partners L.P.
Harrys Kosmatos, Corporate Development Officer, Tsakos Energy Navigation, Ltd.
R. Anthony Salgado, Partner, Blank Rome LLP
Simos Spyrou, Chief Financial Officer, Star Bulk Carriers Corp.
Ioannis Zafirakis, Director, Chief Operating Officer and Secretary, Diana Shipping Inc.
Session III – US Political Issues
New Administration in Washington, DC – Policy Changes and Legislation Affecting Shipping
and International Trade
Joan M. Bondareff, Of Counsel, Blank Rome LLP
Scott D. Hatch, Principal, Blank Rome Government Relations LLC
Stephen C. Peranich, Principal, Blank Rome Government Relations LLC
Matthew J. Thomas, Partner, Blank Rome LLP
Well done to all for this very timely event wher we were pleased to see many of our viewers, supporters and friends with relatives attending and or speaking!!!!
Have a good night and be on guard for Pirates and Terrorists wherever you are – on board or ashore…
